RMG
RMG BreakoutThis is a technical trade on the breakout with the spac of Romeo. I will follow this one closer with stop loss and plan to make it a quick trade until I know more about it. RMG is breaking out with very high volume, this is a SPAC in the EV space is potential could be a strong player for Romeo. "RMG Acquisition Corp in a $1.33 billion deal, the companies said on Monday.
The deal is expected to raise $384 million for Romeo, which includes an investment of $150 million from investors such as The Heritage Group and Republic Services." This is more a technical trade based on news and hype, but it will generate a nice market cap.
LSE:RMG Possible Bear RunBollinger Band working as short term resistance. If it holds on Monday price may continue act bullish. However, the BB MA and 5 period WMA are approaching, the Parabolic SAR has flipped, and the Stochastic descends, would indicate bear run approaching. Lower BB or long term WMA (60) may act as new resistance.
